The NEAR Foundation is happy to announce it has awarded a grant for WannaSwap, a new decentralized exchange (DEX). WannaSwap is one of the first DEXs to be powered by Aurora, a turn key solution for developers to operate their apps on an Ethereum compatible, high-throughput platform.
The grant, for $50,000 will be to help accelerate WannaSwap’s progress to building out its functionality and grow its userbase.
“DeFi is one of the cornerstones of any thriving blockchain ecosystem, and decentralized exchanges are vital to its success. We’re thrilled to see WannaSwap’s innovative approach being built on Aurora,” says Erik Trautman, NEAR Foundation’s CEO.
WannaSwap is one of the first DEXs to run on Aurora’s EVM, allowing fast, simple and cost-effective trading between Ethereum tokens such as Sushi, Balancer and Uniswap and those on NEAR.
The development team’s initial focus will be to create features such as Swap, Farming and Staking for users, but with a number of innovative twists:
- Transaction fees on WannaSwap will be just 0.2% — the cheapest on NEAR.
- WannaSwap will have a unique feature called Referral. Users can refer other users to join Farming and get back a reward equal to 3% of the $WANNA earned by the referrer.
In addition to the features of a DEX, WannaSwap has plans for a range of other features, as laid out in its roadmap above.
WannaSwap’s immediate goal is to become a key liquidity hub on Aurora. In future, WannaSwap aspires to be a vital onramp for new DeFi users looking for an easy to use, fast, and low-cost platform, built on NEAR.